Gibraltar Provides $5.5MM LoC to Support Textile Company Acquisition

South Carolina Elastics manufactures braided, knitted and woven narrow fabrics, with a specialization in the production of high quality elastics, and non-elastic cord, knitted elastic tapes and elastic and rigid webbing. These products are sold and integrated into end products such as shoelaces, bungee cords, medical elastic masks, hose tape and military webbings.

Gibraltar leveraged the value of the accounts receivable, inventory and equipment of the acquired assets to provide a flexible financing solution and was able to close in an expedited 30-day time frame.